Physical collectible company Funko has acquired a majority stake in NFT platform TokenWave, signaling their first move into the realm of digital collectibles and NFTs. The company now has plans to launch their first NFTs in June, and they are picking the WAX blockchain to do so.
On a weekly basis Funk wants to release new unique NFTs, tapping into their existing licenses for the vinyl Funko Pop! figures. They idea is that the rarest NFTs come with an exclusive physical Funko Pop! collectible. With a $9.99 entry price, these digital collectibles will likely be hot commodities.
“By backing the rarest of the Funko NFTs with exclusive redeemable Funko Pop!s, we are poised to enter the NFT market in a very unique manner. Importantly, we plan to make Funko NFTs broadly accessible to our fans by providing affordable entry pricing”, said Funko’s CEO Brian Mariotti.
TokenWave is a small company when compared to Funko, but they have been working with NFTs on the Wax blockchain for quite some time. In addition they have their own application Tokenhead, which reportedly already attracts 100,000 visits per day. The mobile app for Android and iOS allows users to check out millions of NFTs.
The King of NFTs
Wax is really positioning itself as a blockchain for digital collectibles. CEO William Quigley said last year that Wax puts focus on non-fungible tokens. In blog post he furthermore added that ‘every consumer product that can not be eaten, will become an NFT’. The boss of Wax sees blockchain maximalism as a dying philosophy. He believes every blockchain will gets its own specialism. In the case of Wax that’s collecting and trading NFTs, but for Ethereum that could very well be decentralized finance.
One of the most popular collectibles on the Wax blockchain are the ones from Garbage Pail Kids. However, very slowly more gaming projects are joining as well. Alien Words is currently one of the most played blockchain games on the market. In addition there’s the battle royale game Hodl God, and trading card games like Dark Country and Tribal Books.
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